Taiwan's Alchip is booming as AI chip design orders surge, good news for investors betting on the AI buildout.

• Alchip posted its highest-ever monthly revenue in August, the third record month in a row.
• Sales more than doubled from a year earlier, and revenue for the year so far is up over 100%.
• The growth comes from a big North American cloud provider ramping up mass production of custom AI chips.
• Cloud work should stay near 80% of its business, with car chip projects replacing fading crypto mining orders.
• Alchip has already locked in TSMC production capacity for next year, clearing the way for more orders.

Outlook: The company expects an even stronger second half, with its customer's next-generation AI chip going into mass production around the end of this year.